Six vessels carrying approximately 212.7 million litres of Premium Motor Spirit (petrol) and Automotive Gas Oil (diesel), valued at nearly N279bn at current Dangote Petroleum Refinery gantry prices, are arriving at Nigerian ports this week.
The shipments come at a time when the Dangote Petroleum Refinery is awaiting a Lagos Federal High Court ruling on its request to halt the importation of refined petroleum products, a move being contested by the Nigerian National Petroleum Company Limited and other oil marketers.
According to the daily shipping position report of the Nigerian Ports Authority, the vessels are berthing across terminals in Apapa and Tincan ports in Lagos, as well as the North West Petroleum and Gas terminal in Calabar. Discharge operations are expected to continue through June 19.
Five of the vessels are carrying petrol, while one is loaded with diesel. Together, they account for about 157,000 metric tonnes of imported fuel, comprising 132,000 metric tonnes of PMS and 25,000 metric tonnes of AGO.
At Dangote refinery’s current gantry price of N1,250 per litre for petrol and N1,700 per litre for diesel, the cargo is valued at approximately N229.1bn for petrol and N50bn for diesel, bringing the total estimated worth to about N279.1bn.
The MT Mosunmola, managed by Intership, is the largest single delivery, carrying 45,000 metric tonnes of petrol to the Bulk Oil Plant in Apapa and is expected to berth on Friday, June 12. The MT ST Ilhaam, carrying 37,000 metric tonnes, is scheduled to arrive on June 19 at the New Oil Jetty.
The MT Leste, the only diesel vessel, arrived on June 9 at Tincan Port, while MT Bora and MT Stellar delivered additional petrol cargoes to Lagos and Calabar terminals. The MT Lausu has remained at anchorage since June 3, awaiting berthing in Lagos.
The development underscores ongoing tension in Nigeria’s downstream petroleum sector, as the Dangote refinery continues its legal push to stop the issuance of fuel import licences, arguing that they undermine local refining investment and capacity utilisation.
The refinery, which began operations in 2024, has rapidly expanded output and now supplies petrol, diesel, and aviation fuel to both domestic and international markets. It has also increased its processing capacity beyond its original 650,000 barrels per day design, with plans to scale up further to 1.4 million barrels per day.
However, the NNPC and petroleum marketers argue that restricting imports could lead to monopoly pricing and market imbalance, warning that competition is necessary to stabilise fuel prices.
The Federal High Court in Lagos is expected to rule on the matter in the ongoing suit involving the refinery, the Attorney-General of the Federation, and regulatory authorities.
